Two American financiers, one of whom has ties to the former U.S. President Donald Trump’s campaign, have initiated talks with Bulgarian officials over a potential investment in Chiren, Bulgaria’s state-owned underground gas storage facility. According to multiple sources familiar with the discussions, the interest centers on joining a government-backed plan to double the facility’s capacity.…
Bulgarian businesses are facing additional costs as they prepare for the mandatory dual currency display of prices in leva and euros, a requirement set to take effect on August 8. They have until the end of October to adapt their cash register systems and accounting software without risking financial penalties. Eleonora Negulova, chairwoman of the…
In the first quarter of 2025, the state-owned company Bulgargaz reported a significant reduction in financial losses linked to its contract with the Turkish gas firm Botas and, notably, posted a profit from natural gas sales. Bulgargaz’s losses for the first three months of 2025 totaled 32.443 million leva, a substantial improvement compared to the…
The Commission for Protection of Competition (CPC) has fined Billa Bulgaria EOOD 405,936 leva for engaging in misleading advertising, in violation of Article 32, paragraph 1 in connection with Article 33 of the Law on Protection of Competition. The sanction stems from an investigation into a promotional campaign by the company involving the product “Basso…
The transition to the euro will not necessitate the re-signing of existing contracts, Vasil Golemanski, Chairman of the Financial Supervision Commission (FSC), has clarified. He warned the public about a wave of scams exploiting uncertainty around the euro adoption process. Golemanski emphasized that individuals were being targeted with misleading offers that involved signing new agreements…
Food producers in Bulgaria have raised prices on the domestic market significantly more than on export markets, according to the latest data from the National Statistical Institute up to the end of June. Over the past year, prices for food sold domestically have increased by 22.8%, while export prices for food products have grown by…
Moody’s has released its latest assessment of Bulgaria’s economic and institutional outlook, presenting a moderately positive view while highlighting ongoing challenges. The agency points to Bulgaria’s European Union membership and the planned adoption of the euro on January 1, 2026, as key factors supporting the country’s governance and institutional stability. Yet, corruption remains a significant…